What is Bob Parsons' Net Worth?
Bob Parsons is an American entrepreneur and philanthropist who has a net worth of $4 billion. Bob Parsons earned his fortune by founding the GoDaddy group of companies. He also founded YAM Worldwide, through which he is involved in various ventures related to sports, real estate, and marketing. As a philanthropist, Parsons co-founded the Bob & Renee Parsons Foundation with his wife in 2012.
Early Life and Education
Bob Parsons was born on November 27, 1950 in Baltimore, Maryland to a homemaker mother and furniture salesman father. Both of his parents were chronic gamblers, leaving the family in a poor financial situation. To help make ends meet, Parsons took on various jobs, including selling newspapers and pumping gas. After coming close to flunking out of high school, he enlisted in the US Marine Corps and served in Vietnam. Parsons was wounded in action and medically evacuated; for his injury and service, he was awarded a Purple Heart and Combat Action Ribbon.
Following his time in the US Marine Corps and his recovery from injury, Parsons returned to his hometown to study at the University of Baltimore. He graduated magna cum laude with a degree in accounting in 1975.
Career Beginnings
After graduating from college, Parsons began his career in IT and software sales. In 1984, he founded Parsons Technology in Cedar Rapids, Iowa, through which he started selling a home accounting program called MoneyCounts. Parsons Technology eventually grew to become a privately held company with around 1,000 employees. In 1994, it was sold to the business software company Intuit for $64 million.
GoDaddy
In 1997, Parsons founded the Internet domain registrar and web hosting company Jomax Technologies in Phoenix, Arizona. The company was eventually renamed GoDaddy and given a logo with a cartoon man sporting green sunglasses and messy orange hair.
In the summer of 2011, Parsons sold around 70% of GoDaddy to a private equity consortium and resigned from his position as CEO. He remained with the company as executive chairman through mid-2014, and as a board member through most of 2018. Upon Parson's departure, GoDaddy was the world's largest web host by market share, with more than 62 million registered domains.
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YAM Worldwide
In 2012, Parsons founded YAM Worldwide in Scottsdale, Arizona. The company is home to his various entrepreneurial operations in the fields of sports, real estate, and marketing. Its private lending and investment arm, YAM Capital, specializes in commercial real estate lending and acquisition, mostly in Arizona's Valley of the Sun region. In 2016, Parsons established Sneaky Big Studio at his YAM Worldwide Center in Scottsdale. The studio provides a range of services in the areas of media production and postproduction, including editorial, visual effects, and audio. Parsons next launched the YAMWOOD Foundry, a business that makes custom furniture, signs, and lighting fixtures for commercial and residential projects.
Through a number of YAM Worldwide subsidiaries, Parsons operates Harley-Davidson and other motorcycle dealerships in Arizona, Tennessee, and Mississippi. In Scottsdale, he opened the largest Harley-Davidson dealership in the world, spanning two stories and 150,000 square feet. Parsons also founded Spooky Fast Customs, which makes customized motorcycle designs and fabrications. Elsewhere, YAM has been heavily invested in golf. In 2013, Parsons purchased the 292-acre members-only Golf Club Scottsdale and renamed it Scottsdale National Golf Club. He went on to purchase undeveloped properties adjacent to the course. In early 2015, Parsons launched the high-end golf club manufacturing company Parsons Xtreme Golf, which makes clubs that have been used by multiple PGA Tour champions.
The Bob & Renee Parsons Foundation
With his wife Renee, Parsons co-founded the Bob & Renee Parsons Foundation in 2012. Since then, the Foundation has contributed to charities around the world. However, it specializes in disaster relief and military veteran support in the Phoenix area. The Foundation has donated substantially to such organizations as the Semper Fi Fund, the Southwest Center for HIV/AIDS, the Barrow Neurological Institute, and Circle the City. It also gave grants to the W. M. Keck Observatory in Hawaii.
In 2013, Parsons and his wife joined the Giving Pledge, a campaign started by Bill Gates and Warren Buffett requiring members to commit at least half of their fortunes to charity during their lifetimes.
Controversies
Parsons has been the subject of some controversies. In 2011, he was lambasted by animal rights activists and others for tweeting a video of himself fatally shooting an elephant in Zimbabwe.
Real Estate
In 2010 Bob paid $9 million for a mansion on an exclusive golf course in the Hawaiian town of Kailua Kona on the Big Island.
In 2013 Bob Parsons bought the Golf Club Scottsdale and subsequently renamed it the Scottsdale National Golf Club. In 2014 he bought a neighboring property to bring the footprint to a 650 acres.
In June 2018 Bob Parsons paid $133 million for a 76-acre commercial entertainment property in Phoenix. The property features 533,000 square feet of retail/office/residential space just adjacent to the stadium where the NFL's Arizona Cardinals play. Today the complex is called the Westgate Entertainment District.
Bob's primary residence is a palatial estate in Scottsdale on the grounds of the club he owns.
